Hi all,
We just got an unexpected request from the strata manager to pay a special levy because the strata account is in deficit. It was quite a surprise, especially since the strata manager didn't indicate any problems when the AGM was held in January.
Anyway, going through the list of expenses, we noticed that the strata manager charged a "Land titles & strata fees" as part of its administrative expense to the strata. Does the strata manager normally pays land title fees on behalf of the strata?
We would appreciate any help in explaining what this fee is. Thanks.
Contact the strata manager to get clarification of what the item is or speak to one of the members of the executive committee to clarify the issue and see if anyone else has the same query.
I'm actually helping the strata committee to understand the statements sent by the strata manager. We're currently trying to get the detailed financial records from the strata manager, so I thought I get some independent views as well to see if the manager is doing her job.
There are several questions that you should be asking the strata manager. How far away is the next AGM? How long does the management agreement have left to run? Have they previously been doing a good job? Are they usually good with preparing the annual sinking fund and admin budgets? Should you be appointing an auditor to review the expenditure (only worthwhile if you have a large admin/sinking fund or are doing major works)?
Why is the admin account overbudget? What are they suggesting to rectify the situation (is it so far out of balance that a special levy is the only solution)?
Yeah, we've listed a number of questions for the strata manager as we found a number of items that seemed strange.
For example, we have been charged a monthly line rental for a phone, although we don't have a dedicated strata phone on the premise nor do I think the strata manager has a dedicated line just for our block. Is that legal?
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